REGISTERED NUMBER: 12224072 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Oodua Asset Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A O Olusanya

REGISTERED OFFICE:

Number Sixty One

Alexandra Road

Lowestoft

Suffolk

NR32 1PL

REGISTERED NUMBER:

12224072 (England and Wales)

ACCOUNTANTS:

CUNNINGHAMS

Number Sixty One

Alexandra Road

Lowestoft

Suffolk

NR32 1PL

FIXED ASSETS

Investment property

3

107,423

107,423

CURRENT ASSETS

Debtors

4

-

572

Cash at bank

696

1,484

696

2,056

CREDITORS

Amounts falling due within one year

5

43,896

40,324

NET CURRENT LIABILITIES

(43,200

)

(38,268

)

TOTAL ASSETS LESS CURRENT LIABILITIES

64,223

69,155

CREDITORS

Amounts falling due after more than one year

6

70,434

77,310

NET LIABILITIES

(6,211

)

(8,155

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(6,212

)

(8,156

)

(6,211

)

(8,155

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 September 2025 and were signed by:

Mr A O Olusanya - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is comprised of rents receivable.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

107,423

NET BOOK VALUE

At 31 March 2025

107,423

At 31 March 2024

107,423

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

-

572

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

1,811

1,747

Other loans

5,000

5,000

Directors' current accounts

36,197

32,821

Accrued expenses

888

756

43,896

40,324

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 1-2 years

1,811

1,747

Bank loans - 2-5 years

5,434

5,242

Bank loans more 5 yr by instal

44,438

46,571

Other loans - 1-2 years

5,000

5,000

Other loans - 2-5 years

13,751

18,750

70,434

77,310

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

44,438

46,571

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

53,494

55,307

The company's freehold property is charged to its bankers as security for its borrowings.